Oh, I wouldn't be too quick to close the door on the idea, unless you're personally prejudiced against it.
Something like this could work. This concept is barking up the right tree, just the wrong branch. We all get to a point where we have way too much stuff in our inventories that we'd like to be rid of (but don't want to outright waste) that someone else might really appreciate; stuff we never even use in a pinch on a quest. And something clearly does yet need to be done about it.
1 - Perhaps instead of an outright gift, make it an "exchange" situation: players have the option to trade gifts (of their own choosing) between themselves; simultaneously gifting each other in a manner they each agree is acceptable.
2 - Have a "Surplus" screen where stuff folks don't want is replicated from their own gifting screen. Others can email them with what they're willing to trade for it. Have it confined to the same limits of the Market place screen: Neighbors, Friends and Guild mates.
If players establish an in-game email connection and negotiate an acceptable agreement, they can enter a private "Barter With" screen where each can move the appropriate items into slots and each has to hit the "accept" button: Trade accomplished.
3 - Just make it so a person cannot use or deploy their received gift unless and/or until they are at the level of the gift.
4 - It could be flexible, accommodating a 1 to 1 ratio, or ten lesser items for one greater one, etc. - whatever each agrees is acceptable enough to commit to trade and push the "accept" button.
5 - Establish a period limit on such Bartering: Only 1 per week, or some such thing.
6 - Establish a limit on intra-guild and Friend trading so as not to prejudice the option against those who just want to play the game and don't want to have to put up with anybody else on a regular basis.
Something that works can be easily achieved, if the inherent prejudice spewed by those who have some ulterior motive against the so called 'gifting" practice, period, is seen for the defeatist rhetoric meant to sabotage and outright kill the idea that it is, when constructive criticism is clearly the only way to help the option become a reality.
To those who like this and want to pursue this or anything that leads to so called “gifting,” thanx and good luck.
To those hive-mined who just want to kill any gifting and shout such discussion or constructive criticism down, “Yes, I voted for Trump and I’m positively thrilled!”
I’ve said my piece. I’m out.